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Post by Stonethecrow on Jan 19, 2021 11:44:36 GMT
Whatever will be down to the owners, not just Terry and Oliver but all the National League clubs.
The lack of further grants does suggest that a shut-down is the most likely course of action.
Furloughing players and staff would save a small fortune.
Hard to believe that many clubs would want to increase their debt by so much
Stones are probably in a better position than most to recoup and repay debt.
Can't read Terry and Oliver's minds but in any case if most clubs want out then shut-down it will be.
Shame about everything including the fact that Hak & co have done so well to develop the team to where it is today.
All to no avail it seems. Everything looking very bleak.
Swordy has been the epitomy of darkness and gloom
Turns out he was right all along !
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Post by Nick on Jan 19, 2021 15:30:35 GMT
Yes, astonishing things happen sometimes (like swordy being right). But never say never, it's not over till the fat lady sings !
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Post by bermudastone on Jan 19, 2021 16:52:29 GMT
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Post by ade on Jan 19, 2021 17:38:32 GMT
If the league becomes void, then the National Lottery Funding, all of a sudden becomes a waste of money.
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Post by sword65 on Jan 19, 2021 17:54:37 GMT
If the league becomes void, then the National Lottery Funding, all of a sudden becomes a waste of money. Very true but then most of it was wasted on the wrong teams anyway.
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Post by jdl on Jan 19, 2021 18:41:33 GMT
Looking at approximate figures we have already lost around £90-100,000 ,we would need a minimum of £250,000 to finish the season so that would mean starting next season with debts of around £350,000. We have had no income from food or drinks and no income from hiring the pitch which will also need replacing soon at even more expense. Unless the owners are ready to take the debts on a personal level then we could spend the next 5 years minimum with an average budget because of repayments of debts.An average budget does not necessarily mean a lack of success but it'll take a lot of luck and extremely good management to achieve. Will our fans accept this and be patient?well I think you know the answer to that and so income will suffer again. Ending the season now ,in my opinion,is the correct thing to do not only for ourselves but for 75% of the rest of the league. And so we wait until Wednesday and pray for a miracle solution at this emergency meeting. If I remember correctly, our debts when we went bust weren't far off that! (Yeah, I know there's been a bit of inflation since, but it still struck a chord.) The facts of the matter are that, even with our potential crowds, we can barely afford to buy/pay the players we'll need to do well at NL (especially taking into account things like replacing the pitch periodically). So there really is no hope of even a club as successful and stable as ours paying off hundreds of thousands of debts any time soon. And clubs with smaller gates, and those who need additional money just to survive at this level, would never be able to cope with debts like that. So, if that's the choice - take a loan or abandon the season - there really is no choice. Few, if any, clubs at our level would have even started the season if they'd known how it was going to pan out.
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Post by jdl on Jan 19, 2021 18:43:45 GMT
Yes, astonishing things happen sometimes (like swordy being right). But never say never, it's not over till the fat lady sings ! Rather rude - he may be a little overweight, but he's no lady!
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Post by Rob on Jan 19, 2021 19:40:59 GMT
Looking at approximate figures we have already lost around £90-100,000 ,we would need a minimum of £250,000 to finish the season so that would mean starting next season with debts of around £350,000. We have had no income from food or drinks and no income from hiring the pitch which will also need replacing soon at even more expense. Unless the owners are ready to take the debts on a personal level then we could spend the next 5 years minimum with an average budget because of repayments of debts.An average budget does not necessarily mean a lack of success but it'll take a lot of luck and extremely good management to achieve. Will our fans accept this and be patient?well I think you know the answer to that and so income will suffer again. Ending the season now ,in my opinion,is the correct thing to do not only for ourselves but for 75% of the rest of the league. And so we wait until Wednesday and pray for a miracle solution at this emergency meeting. If I remember correctly, our debts when we went bust weren't far off that! (Yeah, I know there's been a bit of inflation since, but it still struck a chord.) The facts of the matter are that, even with our potential crowds, we can barely afford to buy/pay the players we'll need to do well at NL (especially taking into account things like replacing the pitch periodically). So there really is no hope of even a club as successful and stable as ours paying off hundreds of thousands of debts any time soon. And clubs with smaller gates, and those who need additional money just to survive at this level, would never be able to cope with debts like that. So, if that's the choice - take a loan or abandon the season - there really is no choice. Few, if any, clubs at our level would have even started the season if they'd known how it was going to pan out. But JDL are you overlooking the debt we are in to our owners before the season ever started ? And I mean the financial debt not the personal one. At the last count I think it was circa £4million and maybe a shade more. The cost of building and developing the Gallagher was not gifted, it has been loaned and is a debt whatever way you look at it.
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Post by Deleted on Jan 19, 2021 20:48:09 GMT
If I remember correctly, our debts when we went bust weren't far off that! (Yeah, I know there's been a bit of inflation since, but it still struck a chord.) The facts of the matter are that, even with our potential crowds, we can barely afford to buy/pay the players we'll need to do well at NL (especially taking into account things like replacing the pitch periodically). So there really is no hope of even a club as successful and stable as ours paying off hundreds of thousands of debts any time soon. And clubs with smaller gates, and those who need additional money just to survive at this level, would never be able to cope with debts like that. So, if that's the choice - take a loan or abandon the season - there really is no choice. Few, if any, clubs at our level would have even started the season if they'd known how it was going to pan out. But JDL are you overlooking the debt we are in to our owners before the season ever started ? And I mean the financial debt not the personal one. At the last count I think it was circa £4million and maybe a shade more. The cost of building and developing the Gallagher was not gifted, it has been loaned and is a debt whatever way you look at it. The stadium debt is ring-fenced away from the club, in the form of a separate limited company. Director's loans are 'soft' in that Oliver and Terry knew when they spent that money that they were highly unlikely to get much or even all of it, back. I don't think that is an issue at the moment. What is an issue, as JDL pointed out earlier in this thread, is the fact they have always been adamant that they won't pour more of their own money into the club. If that means pulling out of the rest of this season, it is surely the route they will take.
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Post by jdl on Jan 19, 2021 20:49:34 GMT
If I remember correctly, our debts when we went bust weren't far off that! (Yeah, I know there's been a bit of inflation since, but it still struck a chord.) The facts of the matter are that, even with our potential crowds, we can barely afford to buy/pay the players we'll need to do well at NL (especially taking into account things like replacing the pitch periodically). So there really is no hope of even a club as successful and stable as ours paying off hundreds of thousands of debts any time soon. And clubs with smaller gates, and those who need additional money just to survive at this level, would never be able to cope with debts like that. So, if that's the choice - take a loan or abandon the season - there really is no choice. Few, if any, clubs at our level would have even started the season if they'd known how it was going to pan out. But JDL are you overlooking the debt we are in to our owners before the season ever started ? And I mean the financial debt not the personal one. At the last count I think it was circa £4million and maybe a shade more. The cost of building and developing the Gallagher was not gifted, it has been loaned and is a debt whatever way you look at it. Not really. For a start, there's no pay-back date and no interest, but also, it's really a 'debt' they owe themselves. O&T built the stadium with their own money and they own both the stadium and the club. I built a shed last year, but I don't owe myself (or anyone else) whatever it cost.
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Post by Raymondo316 on Jan 19, 2021 20:55:34 GMT
Well that's the season finished then.
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Post by bermudastone on Jan 19, 2021 22:38:41 GMT
After watching tonight's game perhaps it would be god send to end the season now anyway ?!
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Post by farawaystone on Jan 20, 2021 8:46:19 GMT
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Post by bermudastone on Jan 20, 2021 19:16:31 GMT
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Post by jdl on Jan 20, 2021 19:52:02 GMT
So, only two options really: 1) abandon season, 2) NL takes on government loan, grants money to clubs, pays back loan via reduced annual grants to clubs. I imagine most clubs (as per Terry's interview) would rather keep playing if they can, so the NL offer of taking on the loan is effectively going to put option 1) out of the picture. Option 2) sort of solves the problem, in that clubs get the money, but don't (technically) take on any debt. But they still have to pay the same money back as if they had taken on the debt. Will clubs, especially the less well-funded ones, be able to find that money? My gut feeling is that the desire to carry on playing will trump the worry about reduced NL grants (effectively deferred payments). But this is still going to leave most clubs with serious money problems for years to come. And for some clubs, this will still be too much - it would hit us quite hard, with our 2,000+ potential gates, but imagine if you only get a few hundred at home games... I think the majority will go for it. So, onwards and sideways - but with 3 points fewer than we should have thanks to last night's total surrender.
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